Dalit Venture Capital Fund

Indian government launched a new financial scheme, Dalit Venture capital on January 16 to boost small businesses among scheduled castes. This scheme helps the SCs to get finance at concession for their business.

Under this scheme, Rs.200 crore is released as an initial capital to help Dalits. This scheme would benefit nearly 30 people from loans each year and the loans would increase up to Rs.15 crore. The sponsor for this scheme is IFCI Ltd. AMC would operate this scheme. Rs.50 crore would be contributed by IFCI Ltd. in which Rs.5 crore would be as sponsor and the remaining as investors.

Another scheme, ‘Green Business Scheme’ was also launched by the social justice ministry in which Dalits would get finance for their business which fight against the climate change. Up to Rs.1 lakh would be provided to SCs under this scheme at a concessional rate of interest to start business such as e-rickshaw, solar pump and other solar energy powered implements. National Scheduled Castes Finance and Development Corporation would run this scheme.